The Corporate Insolvency and Governance Act ("the Act") came into expedited effect on 26 June 2020 and is intended to maximise the chance of corporate survival and reduce the threat of personal liability on directors during this unprecedented economic crisis.

D&O insurers should be clear about one thing: this Act will not help them and in fact it could well make things worse.

The Act

Liquidators have more certainty about their ability to disclaim the environmental liabilities and responsibilities of a company in liquidation.

The liquidators were not bound to cause Linc to comply with the EPO from the date of the disclaimer.